Bill > H4568

This bill establishes a universal asset-building accounts pilot program through the state's housing authority, leveraging its Moving to Work flexibility granted by the U.S. Department of Housing and Urban Development (HUD). The program will create Family Self-Sufficiency (FSS) escrow accounts for up to 1,000 eligible families, where the amount deposited will be equal to any increase in rent attributable to the family's increased earned income. Families can opt out of the program at any time without risking their housing assistance, and regional agencies managing federal housing choice vouchers can apply to participate. The bill requires the secretary to partner with philanthropic and non-profit entities to help fund program administration, technical assistance, and evaluation. The pilot program must begin by January 1, 2027, and operate for at least 5 years. After the program concludes, the secretary must collaborate with partners to conduct a study and report to legislative leaders on the program's effectiveness in helping families achieve economic independence and the impact of coaching and supportive services on individual incomes.

Budget and Finance, Housing and Urban Affairs

https://malegislature.gov/Bills/194/H4568